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Western Gold Resources Ltd.
(Sydney:WGR)
Western Gold Resources Ltd. (WGR) vs. iShares MSCI Australia ETF (EWA)
Western Gold Resources Ltd. Business Overview & Revenue Model
Western Gold Resources Ltd. Financial Statement Overview
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 66.64K | 4.64K | 0.00 | 0.00 | 0.00 |
| Gross Profit | -5.51K | 66.64K | 4.64K | -1.78K | -1.82K | 0.00 |
| EBITDA | -5.56M | -1.97M | -2.43M | -1.90M | -4.01M | 0.00 |
| Net Income | -7.23M | -2.50M | -3.11M | -1.90M | -4.01M | 2.05M |
Balance Sheet | ||||||
| Total Assets | 6.40M | 1.68M | 2.07M | 1.29M | 2.92M | 838.75K |
| Cash, Cash Equivalents and Short-Term Investments | 5.43M | 608.40K | 751.32K | 658.71K | 2.13M | 31.25K |
| Total Debt | 3.00M | 0.00 | 500.00K | 0.00 | 0.00 | 463.62K |
| Total Liabilities | 3.55M | 303.68K | 740.81K | 261.94K | 460.41K | 813.40K |
| Stockholders Equity | 2.85M | 1.38M | 1.33M | 1.03M | 2.46M | 25.34K |
Cash Flow | ||||||
| Free Cash Flow | -5.60M | -1.88M | -2.24M | -1.95M | -4.17M | -693.37K |
| Operating Cash Flow | -5.57M | -1.88M | -2.22M | -1.95M | -4.16M | -693.37K |
| Investing Cash Flow | -26.28K | 198.00K | -99.19K | 0.00 | -12.88K | 0.00 |
| Financing Cash Flow | 10.85M | 1.54M | 2.41M | 475.24K | 6.27M | 724.62K |
Western Gold Resources Ltd. Technical Analysis
Western Gold Resources Ltd. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
49 Neutral | AU$30.19M | -6.78 | -6.34% | ― | ― | ― | |
47 Neutral | AU$22.76M | -1.08 | -86.38% | ― | ― | ― | |
47 Neutral | AU$40.84M | 3.40 | 7.66% | ― | 400.00% | 21.71% | |
46 Neutral | AU$29.15M | -30.22 | -3.66% | ― | ― | 37.50% | |
45 Neutral | AU$44.81M | -3.39 | -35.89% | ― | ― | -4.00% | |
43 Neutral | AU$48.52M | -1.91 | -342.09% | ― | ― | 40.17% |
Western Gold Resources Ltd. Corporate Events
Western Gold Resources has launched a 12,000-metre life-of-mine extension, grade control and infill drilling program at its flagship Gold Duke Project, backed by a strong cash balance and buoyant gold prices. The work targets strike and down-dip extensions of the Emu, Eagle, Joyners Find and Gold King South deposits to add tonnes and ounces within the existing pit framework and improve grade continuity.
The company will run this drilling in parallel with mobilisation for Stage 1 production, aiming to expand the mineable resource beyond the planned roughly 43,000 ounces and extend mine life. By aligning drill spacing, methodology and mine planning assumptions with its December 2025 Mineral Resource Estimate, WGR seeks to enhance production flexibility, strengthen long-term project economics and support future resource upgrades and Stage 2 brownfields drilling funded from Stage 1 cash flow.
The most recent analyst rating on (AU:WGR) stock is a Sell with a A$0.20 price target. To see the full list of analyst forecasts on Western Gold Resources Ltd. stock, see the AU:WGR Stock Forecast page.
Western Gold Resources has moved the Gold Duke Project into the execution phase by awarding pre-mining contracts to SSH Mining Australia and other contractors to begin clearing, grubbing and site establishment. The early works include developing open pits, waste dumps, haul roads, laydown areas and run-of-mine pads, as well as organising earthmoving equipment to support the transition into mining operations.
SSH Mining, together with LGIRS, has been appointed as Mine Operator under a turnkey solution, while Pennington Scott and Delta Consultancy & Drilling Services have been engaged to construct the Bower Bird Water Bore to secure water for mining and dust suppression. These steps advance operational readiness, materially de-risk the planned Q1 2026 mobilisation and production schedule, and align with Western Gold Resources’ capital-efficient development strategy and ongoing assessment of extending Gold Duke’s mine life.
The most recent analyst rating on (AU:WGR) stock is a Sell with a A$0.17 price target. To see the full list of analyst forecasts on Western Gold Resources Ltd. stock, see the AU:WGR Stock Forecast page.
Western Gold Resources has appointed experienced finance executive Sonu Cheema as its new Chief Financial Officer and Company Secretary, effective 5 February 2026, bringing more than 15 years of financial and corporate governance experience with public and private companies in Australia and overseas. He replaces outgoing CFO and Company Secretary Simon Borck, whose resignation has prompted a smooth leadership transition, with Cheema also assuming responsibility for official communications between the company and the ASX, signaling a continued emphasis on regulatory compliance and corporate oversight.
The most recent analyst rating on (AU:WGR) stock is a Hold with a A$0.20 price target. To see the full list of analyst forecasts on Western Gold Resources Ltd. stock, see the AU:WGR Stock Forecast page.
Western Gold Resources Ltd. has issued 1,000,000 new fully paid ordinary shares following the partial exercise of unlisted options that were originally granted to lenders under a $3 million secured, non-converting loan facility established in 2025. The company confirmed that the new shares were issued without a disclosure document under the Corporations Act, while stating it remains compliant with its continuous disclosure and financial reporting obligations and that there is no excluded information requiring disclosure, signaling regulatory compliance and clarifying the capital structure for shareholders.
The most recent analyst rating on (AU:WGR) stock is a Hold with a A$0.25 price target. To see the full list of analyst forecasts on Western Gold Resources Ltd. stock, see the AU:WGR Stock Forecast page.
Western Gold Resources Limited, an ASX-listed resources company focused on gold projects, continues to expand its equity base through the issuance of new ordinary shares. The company has applied for quotation on the ASX of 1,000,000 new fully paid ordinary shares, issued on 29 January 2026 following the exercise or conversion of existing options or other convertible securities, modestly increasing its listed capital and potentially improving liquidity for shareholders.
The most recent analyst rating on (AU:WGR) stock is a Hold with a A$0.25 price target. To see the full list of analyst forecasts on Western Gold Resources Ltd. stock, see the AU:WGR Stock Forecast page.
Western Gold Resources has secured board approval to commence mining at its 100%-owned Gold Duke Project, with mobilisation and site establishment scheduled for the first quarter of 2026. The company is now fully funded through to production after raising $6.75 million in an oversubscribed placement backed by institutional investors and arranging a deferred payment facility with mining contractor SSH Mining. An updated Mineral Resource Estimate for Gold Duke now stands at 4.8 million tonnes at 1.8 grams per tonne gold for 277,000 ounces, while early results from a 35,300-metre grade control and infill drilling program at Eagle South, Gold King and Golden Monarch confirm the accuracy of the geological model and strong grade continuity. The Golden Monarch deposit, which accounts for roughly a third of the ounces in the Scoping Study, continues to return high-grade, consistent intercepts, bolstering confidence in early-stage mine production and financial outcomes. The latest Scoping Study outlines a production target of 42,800 ounces of gold from 686,000 tonnes at 2.1 grams per tonne, with an illustrative undiscounted cash surplus of A$109.7 million at a A$5,800/oz gold price, representing a 64% increase on the previous estimate and materially enhancing the project’s value proposition for shareholders.
The most recent analyst rating on (AU:WGR) stock is a Hold with a A$0.25 price target. To see the full list of analyst forecasts on Western Gold Resources Ltd. stock, see the AU:WGR Stock Forecast page.
A substantial shareholder in Western Gold Resources Ltd. has lodged a regulatory notice indicating it has ceased to be a substantial holder in the company. The change reflects a reduction in that investor’s voting interest below the substantial holding threshold, potentially altering the company’s share register dynamics and signalling a shift in the composition of its major shareholders, which may be monitored closely by existing investors and the market.
The most recent analyst rating on (AU:WGR) stock is a Hold with a A$0.20 price target. To see the full list of analyst forecasts on Western Gold Resources Ltd. stock, see the AU:WGR Stock Forecast page.
Western Gold Resources has released an updated Mineral Resource Estimate for its Gold Duke Project, now standing at 4.8 million tonnes at 1.8 grams per tonne gold for 277,000 ounces, including 2.0 million tonnes at 1.6 grams per tonne in the higher-confidence Measured and Indicated categories. The new estimate, prepared under the JORC 2012 Code and constrained within an A$7,000/oz pit shell, incorporates nearly 34,000 metres of recent grade control and infill reverse circulation drilling, refined geological modelling and revised economic assumptions, significantly improving confidence, continuity and operational realism of the resource in the key mining-approved deposits. Metallurgical test work has confirmed strong recoveries of up to 95.2% using conventional CIL processing, while a binding toll milling agreement for treatment at the nearby Wiluna plant and a fully funded pre‑production program underpin the company’s capital-light pathway toward production. With mineralisation remaining open along strike and at depth and a Stage 2 growth strategy underway to assess brownfields prospects near planned operations, the update strengthens the technical and economic foundations of Gold Duke and highlights potential for further resource growth and value creation for stakeholders.
Western Gold Resources has approved a formal Decision to Mine at its Gold Duke Project in Western Australia, marking a strategic shift from exploration and development to becoming a near-term gold producer. The decision follows completion of a 35,000m close-spaced grade control and infill drilling program, updated geological modelling and mine scheduling across the Stage 1 pits, which have demonstrated strong continuity between new and historical data, supporting accurate ore boundary definition, higher confidence in pit optimisation and the potential for resource upgrades. With all key regulatory approvals in place, a binding toll-milling agreement secured with a nearby processing plant, a preferred mining contractor identified, and funding to production supported by a recent A$6.75 million placement and a planned deferred payment facility, the project is now operationally and financially positioned for mobilisation and site establishment in the first quarter of 2026 and updated mineral resource models expected before the end of 2025.